Deane Retirement Strategies Inc. boosted its position in Colgate-Palmolive (NYSE:CL) by 1.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,431 shares of the company’s stock after purchasing an additional 420 shares during the period. Colgate-Palmolive accounts for about 1.9% of Deane Retirement Strategies Inc.’s portfolio, making the stock its 17th biggest holding. Deane Retirement Strategies Inc.’s holdings in Colgate-Palmolive were worth $2,181,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. FMR LLC boosted its holdings in Colgate-Palmolive by 29.1% in the first quarter. FMR LLC now owns 7,384,604 shares of the company’s stock worth $506,141,000 after acquiring an additional 1,665,348 shares in the last quarter. Horizon Investments LLC bought a new position in Colgate-Palmolive in the first quarter worth approximately $211,000. Merit Financial Group LLC boosted its holdings in Colgate-Palmolive by 20.8% in the first quarter. Merit Financial Group LLC now owns 6,171 shares of the company’s stock worth $422,000 after acquiring an additional 1,063 shares in the last quarter. Lombard Odier Asset Management USA Corp bought a new position in Colgate-Palmolive in the first quarter worth approximately $10,624,000. Finally, Weiss Asset Management LP bought a new position in Colgate-Palmolive in the first quarter worth approximately $211,000. 75.61% of the stock is owned by institutional investors and hedge funds.
Shares of CL traded down $0.07 on Tuesday, reaching $72.28. 3,925,675 shares of the company’s stock traded hands, compared to its average volume of 3,536,548. The company has a debt-to-equity ratio of 32.25, a quick ratio of 0.74 and a current ratio of 1.07. The firm has a market capitalization of $62.41 billion, a PE ratio of 24.34, a PEG ratio of 4.76 and a beta of 0.78. The business has a 50 day moving average price of $73.12. Colgate-Palmolive has a 52-week low of $57.41 and a 52-week high of $74.67.
Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results on Friday, April 26th. The company reported $0.67 EPS for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.01. The company had revenue of $3.88 billion during the quarter, compared to the consensus estimate of $3.86 billion. Colgate-Palmolive had a negative return on equity of 3,730.37% and a net margin of 15.08%. Colgate-Palmolive’s revenue was down 2.9% on a year-over-year basis. During the same period last year, the business posted $0.74 earnings per share. As a group, analysts forecast that Colgate-Palmolive will post 2.84 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, July 18th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date of this dividend is Wednesday, July 17th. Colgate-Palmolive’s payout ratio is 57.91%.
In related news, insider Ian M. Cook sold 19,500 shares of the stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $71.28, for a total transaction of $1,389,960.00. Following the completion of the sale, the insider now directly owns 1,091,793 shares of the company’s stock, valued at $77,823,005.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP John J. Huston sold 473 shares of the stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $72.93, for a total value of $34,495.89. Following the sale, the senior vice president now directly owns 59,668 shares of the company’s stock, valued at $4,351,587.24. The disclosure for this sale can be found here. Insiders have sold 362,184 shares of company stock valued at $25,909,426 over the last ninety days. 1.14% of the stock is currently owned by company insiders.
Several brokerages have issued reports on CL. Argus increased their price target on Colgate-Palmolive from $72.00 to $82.00 and gave the stock a “buy” rating in a report on Tuesday, June 11th. Jefferies Financial Group reissued a “buy” rating and issued a GBX 265 ($3.46) price objective on shares of WM Morrison Supermarkets in a research note on Monday, April 29th. Morgan Stanley set a $70.00 price objective on Edison International and gave the stock a “hold” rating in a research note on Monday, July 15th. ValuEngine downgraded Zumiez from a “hold” rating to a “sell” rating in a research note on Monday, May 13th. Finally, Bank of America set a $80.00 price objective on Colgate-Palmolive and gave the stock a “buy” rating in a research note on Friday, July 12th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have given a buy rating to the company. Colgate-Palmolive currently has a consensus rating of “Hold” and an average price target of $71.94.
Colgate-Palmolive Company Profile
Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. The company operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. It offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; and personal care products, such as liquid hand soaps, bar soaps, shower gels, deodorants and antiperspirants, skin care products, and shampoos and conditioners.
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